The iconic New York-based retailer announced that the store, which has been at the Stamford mall since 1983, is expected to close in early 2014.

The planned closing is consistent with the Saks' strategy of utilizing its resources in its most productive Saks Fifth Avenue stores, said Steve Sadove, chairman and chief executive officer of Saks.

"We routinely evaluate the productivity, profitability and potential of each of our store locations and may determine that closing a store is the right course of action from time to time," he said.

The Stamford store employs about 80 associates who either will be offered transfer opportunities or will receive employment separation packages.

"Store closing decisions are never easy," Sadove said. "We are very thankful for our Stamford associates, many of whom have worked with Saks for a number of years. As always, we are committed to providing our associates with needed assistance during this time."

The company's other nearby stores are in Greenwich and in New York City.